# kaal:claim:4685567-003

**Claim.** Impact 1.0 foundations developed plutocratic power structures because their leaders and trustees were never democratically elected, and Impact 3.0 addresses this by adding WEB3 collaborative democratic measures on top of the existing foundation structures.

**Type.** mechanism  **Support.** argued

**Holds when.**

- private foundation governance
- Impact 3.0 still relies on foundation structures

**Source quote.**

> further improve Impact 1.0 private foundations by adding collaborative WEB3 democratic measures that address plutocratic power structures in Impact 1.0 foundations that originated in the lack of democratic elections of Impact 1.0 foundations' organizations' leaders or trustees.

**From.** Wulf A. Kaal, *Impact Investing Innovation - From Impact 1.0 to 3.0* (2024), Introduction, page 4

**Cite as.** Wulf A. Kaal, Impact Investing Innovation - From Impact 1.0 to 3.0 (2024). SSRN: https://ssrn.com/abstract=4685567

**Verify.** sha256 of source PDF `87fb1be89d2661967ed2b0b673fe26448ded3bc3119b122177a4fc13ae5c085c` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202024%20-%20Impact%20Investing%20Innovation%20-%20From%20Impact%201.0%20to%203.0.pdf

**Failure mode.** Undemocratic Foundation Power Structure  (family: plutocratic-capture)

**Topics.** governance-design

**Keywords.** plutocracy, foundation-governance, web3-communities, democratic-legitimacy, impact-3-0

**Related claims.**

- extends: https://wulfkaal.github.io/claims/3981021-003

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